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Venture Capital News: Sporttrade Grabs $36M

PHILADELPHIA, PA, Sporttrade, a fintech, sports betting company, today announced it has raised $36 million in funding.
The coalition of investors from both the financial and gaming industries include lead investor Jump Capital, Impression Ventures, Hudson River Trading, Tower Research Ventures, Jim Murren, former CEO of MGM Resorts International and Tom Wittman, former CEO of the Nasdaq Stock Exchange. In addition, Sporttrade issued convertible debt to Nasdaq Ventures in connection with the transaction. Funding will be put towards customer acquisition, expansion into additional states, and continued investment in a diverse, talented team.

Sporttrade is poised to enter the US market with the first regulated sports betting exchange in the country's history. Sporttrade is led by an accomplished team from sports betting and capital markets backgrounds.
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